105 Miðborg to build new neighbourhood at Kirkjusandur


Development company 105 Miðborg plans to build a new neighbourhood in Kirkjusandur, with 150 residential flats, office space, a neighbourhood store, and a hotel. In March, the City of Reykjavík and Íslandsbanki signed an agreement providing for development of the Kirkjusandur area, and this project is a part of that contract. Íslandsbanki subsidiary IS Funds is the manager for the project, which is backed by a broad group of shareholders. 

105 Miðborg will build nearly 42,000 m2 of above-ground housing with various types of flats. Plans include a pre-school, a grocery store, and a hotel. The project is estimated to take 4-5 years to complete, with the first residential units ready for their new owners by spring 2020.

Kjartan Smári Höskuldsson, Managing Director of IS Funds:

“It is an exciting and demanding task to build a new, high-quality neighbourhood in a prime location in the city. As a result, we place strong emphasis on responsible development guided by the overall interests of the neighbourhood. The project is backed by a strong investor group, and it has been gratifying to see how much positive interest it has generated. The Kirkjusandur flats will be of various types, and there will be strong emphasis on planning and design of first-class commercial property. Kirkjusandur will be a new flagship office building in Reykjavík, extending directly from Borgartún, with ample parking space, good access, and an outstanding location. Managing the development of the neighbourhood as a whole also adds to the economic efficiency of the project.”

Older news

Year 2017 reports

14.02.2018 - IR Releases
Íslandsbanki released its annual financial results for 2017 this morning. The Bank has now published its Annual Audited Financial Statements, Annual...More

Annual Consolidated Statements 2017

14.02.2018 - IR Releases
Profit after tax was ISK 13.2bn in 2017, compared to ISK 20.2bn in 2016. The profit in 2016 was considerably higher due to one-off income from the...More

105 Miðborg to build new neighbourhood at Kirkjusandur

Development company 105 Miðborg plans to build a new neighbourhood in Kirkjusandur.More

Islandsbanki hf.: Annual Consolidated Financial Statements 2017 published Wednesday 14 February 2018

05.02.2018 - IR Releases
Íslandsbanki will publish its 2017 Consolidated Annual Financial Statements before market opening on Wednesday 14 February 2018.More

Íslandsbanki tops customer satisfaction rankings

Íslandsbanki customers are the most satisfied in the banking market, according to the Icelandic Customer Satisfaction Index.More

Islandsbanki hf.: Íslandsbanki successfully issues innovative EUR 300m callable 6-year bond (6NC5)

12.01.2018 - IR Releases
Íslandsbanki has today issued a EUR 300m 6NC5 1.125% fixed rate senior unsecured bond, at a spread of 75 basis points over 5-year mid-swaps.More

IS Funds’ Treasury bond fund with the highest returns in 2017

IS Funds’ Treasury bond fund, IS Treasury bonds – long, generated the highest returns of all domestic mutual funds in 2017,More